TOPS has declined from approximately a $170,500,000,000 split-adjusted stock price back in 2004 to around $0.20 today. That's a 99.99999999988% decline. A constant stream of heavy dilution and corresponding reverse splits are the cause of this impressive drop.
Full Answer
What has happened to top ships stock?
Since then, TOPS shares have decreased by 83.6% and is now trading at $0.8401. View which stocks have been most impacted by COVID-19. Are investors shorting Top Ships? Top Ships saw a increase in short interest during the month of December.
What caused the 1929 stock market crash?
The day before Black Thursday, the Washington Post ran the headline: “Huge Selling Wave Creates Near-Panic as Stocks Collapse,” while The New York Times announced: “Prices of Stocks Crash in Heavy Liquidation.” Most economists agree that several, compounding factors led to the stock market crash of 1929.
What was the worst stock market crash in history?
The stock market crash of 1929—considered the worst economic event in world history—began on Thursday, October 24, 1929, with skittish investors trading a record 12.9 million shares. On October 28, dubbed “Black Monday,” the Dow Jones Industrial Average plunged nearly 13 percent. The market fell another 12 percent the next day, “ Black Tuesday .”
Did the financial press contribute to the stock market crash?
Many analysts claim that the financial press also played a key role in contributing to the sense of panic that exacerbated the stock market crash.
Why did TOP ship stock fall?
In the case of TOP Ships, it's because the company has struggled operationally and has been diluting the daylights out of its shareholders to keep its business afloat.
Will Top Ships ever recover?
According to some industry analysts covering Top Ships, breakeven is near. They expect the company to post a final loss in 2021, before turning a profit of US$27m in 2022. So, the company is predicted to breakeven approximately 12 months from now or less.
Is Top Ships a good stock to buy?
USD 0.60 0.04 6.25% Given the investment horizon of 90 days and your slightly conservative level of risk, our recommendation regarding Top Ships is 'Strong Sell'.
How much was Top Ships worth in 2004?
(NASDAQ:TOPS) has the dubious distinction of being the worst performing stock while still maintaining a listing on a major U.S. exchange that I have ever seen. TOPS has declined from approximately a $170,500,000,000 split-adjusted stock price back in 2004 to around $0.20 today.
What is the future for top ships?
Top Ships Inc (NASDAQ:TOPS) The 1 analysts offering 12-month price forecasts for Top Ships Inc have a median target of 10.00, with a high estimate of 10.00 and a low estimate of 10.00. The median estimate represents a +1,380.38% increase from the last price of 0.68.
WHAT WAS TOP Ships highest stock price?
The all-time high TOP Ships stock closing price was 4336963821802.30 on November 26, 2004. The TOP Ships 52-week high stock price is 1.76, which is 309.3% above the current share price.
Is tops a good investment right now?
TOP Ships Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Will seanergy stock go up?
The 4 analysts offering 12-month price forecasts for Seanergy Maritime Holdings Corp have a median target of 1.75, with a high estimate of 2.25 and a low estimate of 1.40. The median estimate represents a +80.21% increase from the last price of 0.97.
Is ship stock a buy?
The consensus among 1 Wall Street analyst covering (NASDAQ: SHIP) stock is to Strong Buy SHIP stock.
Why did tops stock go so high?
Instead, the reason for the increase to Top Ships (NASDAQ:TOPS) stock likely has to do with a change in position from the U.S. government. The Trump Administration has announced that the U.S. is planning to leave the Universal Postal Union. The Universal Postal Union is a treaty that has been in place for 144 years.
How many ships does TOP Ships have?
It operates globally in dry cargo and tankers with an active fleet of 285 owned and chartered vessels.
When did top ships go public?
We are incorporated in the Republic of The Marshall Islands and have been trading on NASDAQ since July 2004 under the ticker “TOPS”.
Should I buy or sell Top Ships stock right now?
1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Top Ships in the last year. There are currently 1 hold rating for...
How has Top Ships' stock performed in 2022?
Top Ships' stock was trading at $0.8350 at the beginning of the year. Since then, TOPS stock has decreased by 37.7% and is now trading at $0.5199....
When is Top Ships' next earnings date?
Top Ships is scheduled to release its next quarterly earnings announcement on Monday, June 13th 2022. View our earnings forecast for Top Ships .
When did Top Ships' stock split? How did Top Ships' stock split work?
Top Ships shares reverse split before market open on Monday, August 10th 2020. The 1-25 reverse split was announced on Friday, August 7th 2020. The...
Who are Top Ships' key executives?
Top Ships' management team includes the following people: Mr. Evangelos J. Pistiolis , Founder, Pres, CEO & Director (Age 49) Mr. Alexandros Tsi...
Who are some of Top Ships' key competitors?
Some companies that are related to Top Ships include Navios Maritime (NM) , Pyxis Tankers (PXS) , Globus Maritime (GLBS) , OceanPal (OP) , Per...
What other stocks do shareholders of Top Ships own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Top Ships investors own include Seanergy Maritime (SHIP) ,...
What is Top Ships' stock symbol?
Top Ships trades on the NASDAQ under the ticker symbol "TOPS."
Who are Top Ships' major shareholders?
Top Ships' stock is owned by a number of institutional and retail investors. Top institutional investors include Virtu Financial LLC (0.12%). View...
Referenced Symbols
Shares of TOP Ships Inc. TOPS, -7.94% were cut in half on very heavy volume in morning trading Tuesday, after the Greece-based tanker vessel operator announced before the open the pricing of a large stock offering at a substantial discount.
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About the Author
Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.
When any share / stock sees a huge volume and the price gain in a steep line upward, what?
In the same way, when any share / stock see a huge volume and the price gain in a steep line upward, then all the power of potential buyers are exhausted and none is left to buy.
How many reverse splits did Tops have in 2008?
From 2008 to 2020, TOPS had 11 reverse splits. If you had 189,000,000,000 shares in 2008, you would have 1 share in 2020 due to all these reverse splits. This looks rather shady. Reverse stock splits are a red flag; more so if there are many reverse splits.
How to know if a stock is a pattern or risk?
Pattern/risk - For this pattern, look for a stock that has had a big move over a course of days. During premarket see if its gapping down, If it is wait till the market open and short a spike near red to green level. Have Risk on the red to green level.
When did 5.50 B stock hit 8 B?
Now we talk about support, There is a rubber band trading setup which triggered buy 5.50 b on 12 jan 2005. Thereafter the stock reached 8 B in just two months which is again a sign of climatic volume setup.
Which sector is the early leader in S&P?
Among the S&P sectors, the energy sector (+0.4%) is the early leader, extending its 6% rise this month, while the health care sector (-0.3%) lags.
Why do companies have to stay above $1.00 per share to stay listed?
Companies have to stay above $1.00 per share to stay listed, If the company doesn't stay above $1.00, then it will become an OTC. Reverse splits remove shares from the total shares outstanding and increase the price.
Why are common shares not worth the enterprise value of TOPS?
While the enterprise value of TOPS increases, the common shares have no value because they are being used as nothing more than currency.
How many shares of TOPS did a billionaire own in 2004?
A hypothetical billionaire who owned 8 billion shares of TOPS back in 2004 is down to one share. In reality, the company didn't have that many shares outstanding at the time. All shareholders who held the stock since 2014 have been completely wiped out through reverse splits.
How many shares are there in TOPS?
TOPS had 8,695,348 shares at the end of 2019. With the latest offering of 29,500,000 shares filed on April 30th - just two days after an offering of 35,000,000 shares - TOPS is up to 215,538,488 shares. After the last reverse split in August 2019, the company had approximately 1.6 million shares outstanding. This is a mind boggling increase to the share float of more than 130 times in eight months.
Why do you need to blacklist tops?
Retail traders need to blacklist TOPS so that buy side volume dries up and the vulture financiers are left holding the bag. If and when the CEO converts his Series E preferred shares and owns more than half of the common stock, only then will management take an interest in protecting the share price.
How many times does a common share float increase in eight months?
This is a mind boggling increase to the share float of more than 130 times in eight months. When common shares are treated as nothing more than currency, investors must completely ignore positive fundamentals, business objectives and future growth prospects.
Does TOPS have reverse splits?
TOPS has had a long history of reverse splits and dilution caused by toxic financing deals. Here is a list of the company's reverse splits since inception in 2004:
What happened to stocks during the stock market crash?
Some experts argue that at the time of the crash, stocks were wildly overpriced and that a collapse was imminent.
Why did the stock market crash make the situation worse?
Public panic in the days after the stock market crash led to hordes of people rushing to banks to withdraw their funds in a number of “bank runs,” and investors were unable to withdraw their money because bank officials had invested the money in the market.
What was the cause of the 1929 stock market crash?
Most economists agree that several, compounding factors led to the stock market crash of 1929. A soaring, overheated economy that was destined to one day fall likely played a large role.
What was the worst economic event in history?
The stock market crash of 1929 was the worst economic event in world history. What exactly caused the stock market crash, and could it have been prevented?
What happened on October 28th?
On October 28, dubbed “Black Monday,” the Dow Jones Industrial Average plunged nearly 13 percent. The market fell another 12 percent the next day, “ Black Tuesday .” While the crisis send shock waves across the financial world, there were numerous signs that a stock market crash was coming. What exactly caused the crash—and could it have been prevented?
Why did people buy stocks in the 1920s?
During the 1920s, there was a rapid growth in bank credit and easily acquired loans. People encouraged by the market’s stability were unafraid of debt.
When did the Dow go up?
The market officially peaked on September 3, 1929, when the Dow shot up to 381.
Too many of you have never experienced a stock market crash, and it shows
I recently published my portfolio for 2022, and caught some grief for having 27% of my money allocated for cash, cash equivalents, and bonds. Heck, I'm 58, so that was pretty appropriate.
Did Robinhood use our accounts in Nov for micro transactions?
I was reviewing my November Robinhood statement and saw some strange activity - buying, cancel buys (BCXL) and selling small amounts of GME and BB, landing me a whopping $0.27 profit. This definitely wasn't me and I don't even have BB in my portfolio at all. I have a very boring portfolio with standard stocks, no fancy options ever.
Student loans might cause the next crash
TL;DR: Student loans are getting out of control and the average American is struggling to pay back. Once Biden's student loan pause stops the debt market might spiral out of control.
